Deutsche Bank Raises Accenture (ACN) Price Target to $165.00

Accenture (NYSE:ACN) had its target price hoisted by Deutsche Bank to $165.00 in a report issued on Monday morning.

Several other analysts have also weighed in on ACN. Robert W. Baird reiterated a hold rating and issued a $155.00 price objective on shares of Accenture in a research note on Thursday, December 7th. Cantor Fitzgerald reiterated a buy rating and issued a $135.00 price objective on shares of Accenture in a research note on Thursday, September 28th. KeyCorp reiterated a buy rating and issued a $149.00 price objective on shares of Accenture in a research note on Thursday, September 28th. BMO Capital Markets lifted their price objective on shares of Accenture from $130.00 to $140.00 and gave the company a market perform rating in a research note on Friday, September 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Accenture from $147.00 to $150.00 and gave the company an outperform rating in a research note on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $146.42.

Accenture (NYSE ACN) opened at $151.21 on Monday. Accenture has a fifty-two week low of $112.31 and a fifty-two week high of $152.80. The stock has a market cap of $99,930.84, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.08.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.01. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The firm had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same quarter last year, the business earned $1.31 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. equities analysts forecast that Accenture will post 6.54 earnings per share for the current year.

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 15th. Investors of record on Thursday, October 19th were given a $1.33 dividend. This represents a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, October 18th. Accenture’s payout ratio is currently 48.90%.

In other Accenture news, COO Johan Deblaere sold 5,000 shares of Accenture stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.05, for a total transaction of $675,250.00. Following the transaction, the chief operating officer now directly owns 120,817 shares of the company’s stock, valued at approximately $16,316,335.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard P. Clark sold 3,155 shares of Accenture stock in a transaction on Friday, October 27th. The stock was sold at an average price of $143.01, for a total transaction of $451,196.55. Following the transaction, the insider now directly owns 5,533 shares in the company, valued at $791,274.33. The disclosure for this sale can be found here. In the last three months, insiders sold 83,325 shares of company stock valued at $11,479,125. 0.21% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Eagle Ridge Investment Management bought a new stake in shares of Accenture during the 3rd quarter worth $359,000. Canada Pension Plan Investment Board raised its stake in shares of Accenture by 18.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the information technology services provider’s stock worth $58,532,000 after purchasing an additional 75,100 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Accenture by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the information technology services provider’s stock worth $258,221,000 after purchasing an additional 97,760 shares during the period. Koch Industries Inc. raised its stake in shares of Accenture by 18,227.9% during the 2nd quarter. Koch Industries Inc. now owns 329,903 shares of the information technology services provider’s stock worth $327,000 after purchasing an additional 328,103 shares during the period. Finally, Retirement Systems of Alabama raised its stake in shares of Accenture by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 340,128 shares of the information technology services provider’s stock worth $42,067,000 after purchasing an additional 916 shares during the period. 72.51% of the stock is currently owned by hedge funds and other institutional investors.

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Accenture Company Profile

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Analyst Recommendations for Accenture (NYSE:ACN)

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